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7/23/2014 2:48PM

Hackers Breach 34 Overseas Banks; Is U.S. Next?

Marketwatch banking reporter Priya Anand explains how hackers were able to bypass online security setups at 34 banks across Europe and Asia, and why they're next target could be banks in the U.S. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... I ... welcome to Digits I'm slowing cost will fall and has been having a go at some banks and scanned scary to go three M and here from ... MarketWatch This commercials alone thank you Brian much for being and thinking for having me ... so ... this ... this is a big deal this is more than his usual axis is it to home security system tells will get to know those two factor authentication where when you log into your bank account ... ill say Neil also a cool event either to your inbox this up on an even tobaccos ... undoes messages are able to be intercepted by hackers may finally get around that without people knowing and also ... the second um when you have the security questions that some of the Max let things says you know where where we've always iPhones pet's name lots of stuff ... up if I would this great that all from ... all for my sake and they can scrape up on your screen is something that does happen to factor authentication but in this case some thirty four banks across Europe and Japan ... hadn't found out that what hackers are doing ... is they're finding people fishing email started she now ... and then infect computers with malware and then all the sudden downward in the fifth of their snow trees falling in London to obtain combined say are tied to the aid of re directed to a malicious aircraft ... saying that server will tell you down and focus more on ... that basically Benny Intercept never security codes are sending you sell ... the losses during the millions ... why now ... it's it's so the full study for banks which is a genus that sale and ... also in Germany Spain and Austria five in Japan this is this is really really frightening says within fishing is a was frightening it did but it didn't really an email rather than to open it if you have any doubt a toll ... on the site's my story I'm sticking ... point crude ... on ... Wilson the PayPal is Brooms to what some enough light so I actually had an admission of a few weeks back where researchers found that their two factor authentication system on their phones ... have fine if there's a backdoor people who get around to sit to factor is often hailed as ... in the way to go the way make sure you have a force field around here technology or your bank account ... it's not really a recipe of inflation said open your door but once he got here during a conciliar ... demanded that made it to get to live now with this easy you are not out and in Asia where it here in the U S A C Kennedy could come once but this one is about a cut and security researchers are actually really freaked out honestly that that the skies might still be a huge problem because European banks have a lot more robust and ... security infrastructure for their online banking ... NUS things to stay don't apparently in February is that if they come here there really ... be a thirty four banks across Europe and Japan but they fear that they can feel awkward six weeks into the last one ounce so one more reason to ... have a sleepless night maybe should keep your cash under the mattress three am and thank you very much ... thank me ... I'm Simon Qassam on ... that's that